The Promise Homes Company, one of the largest minority-led, institutional-quality owners of single-family residential rental property in the U.S., and Esusu, the leading fintech company providing rental data into credit bureaus on behalf of landlords, announced today a partnership that will benefit Promise Homes residents by reporting on-time rental payments to the credit bureaus to help them increase their credit scores.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201216005168/en/
Through Esusu, Promise Homes residents can now report their rental payment data into Equifax, Experian, and TransUnion, which enables them to establish and build their credit profiles with on-time rent payments. Residents will also have free access to their credit score through the Esusu Rent Mobile App. Residents may use this credit score to qualify for Promise Homes’ Resident Engagement incentive programs, including 25 for 25 (whereby residents receive a $25 gift card for every 25-point increase in their credit score) and the 700 Credit Score Club (whereby residents receive a 10% discount on rent when they achieve and maintain a credit score of 700 or above).
“Esusu shares Promise Homes’ mission to deliver economic empowerment to those that need it most, and we are thrilled to partner with Esusu and its two founders, who themselves know the challenges of maintaining a quality roof over their head. Together, we will provide our residents with a free and easy way to report their on-time rent payments to the credit bureaus and increase their credit scores,” said John Hope Bryant, Chief Executive Officer of Promise Homes. “During these challenging times, we are especially committed to helping our residents improve their financial positioning, whether through enhancing their credit scores through this partnership with Esusu, through free financial coaching through our partnership with Operation HOPE, or through our Resident Engagement incentive programs.”
“Esusu works to dismantle barriers to housing for working families. We are proud to partner with John Hope Bryant and The Promise Homes Company, who have long been at the forefront of advocating for financial health and credit building to close the racial wealth gap,” said Abbey Wemimo and Samir Goel, Co-Founders of Esusu. “For most Americans, rent is the largest household expense every month. This partnership gives the Promise Homes Company renters visibility into their credit score and an opportunity to significantly boost their credit, which will lead to greater, long-term financial access and stability.”
About Promise Homes
Launched in May 2017, the Promise Homes Company is one of the largest minority-controlled owners of institutional-quality, single-family residential rental property in the United States, with a focus on working class and middle-class communities. Promise Homes offers its residents quality housing at affordable prices as well as financial empowerment and assistance that would position them financially to eventually own a home. Promise Homes also contracts with local, minority-owned businesses for property maintenance services, thereby creating local, sustainable jobs in the communities where it invests. Promise Homes is led by Chief Executive Officer John Hope Bryant, an entrepreneur, author, philanthropist, and prominent thought leader on financial inclusion, economic empowerment and financial dignity. For more information, please visit http://www.thepromisehomescompany.com.
Esusu is the leading financial technology platform that leverages data solutions to empower tenants and improve property performance. Esusu’s rent reporting platform captures rental payment data and reports it to credit bureaus to boost credit scores. This allows tenants to build and establish their credit scores while helping property owners increase revenue, lower evictions, and fill vacancies powered by differentiated data and insights. Learn more at www.esusurent.com and follow us on Facebook @myesusu and on Twitter @getesusu.